Cooper Creek Partners Management LLC Buys Shares of 2,500,467 Core Scientific, Inc. $CORZ

Cooper Creek Partners Management LLC bought a new stake in Core Scientific, Inc. (NASDAQ:CORZ) in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor bought 2,500,467 shares of the company’s stock, valued at approximately $37,407,000. Core Scientific makes up approximately 1.3% of Cooper Creek Partners Management LLC’s investment portfolio, making the stock its 28th largest position. Cooper Creek Partners Management LLC owned approximately 0.79% of Core Scientific as of its most recent SEC filing.

Other hedge funds and other institutional investors have also modified their holdings of the company. Union Square Park Capital Management LLC purchased a new position in shares of Core Scientific during the first quarter valued at $1,496,000. Galaxy Digital Inc. purchased a new stake in Core Scientific in the 1st quarter worth about $10,472,000. Renaissance Technologies LLC boosted its position in Core Scientific by 23.2% during the 1st quarter. Renaissance Technologies LLC now owns 2,132,263 shares of the company’s stock worth $31,899,000 after acquiring an additional 401,800 shares during the period. Sei Investments Co. boosted its position in Core Scientific by 14.1% during the 1st quarter. Sei Investments Co. now owns 107,207 shares of the company’s stock worth $1,604,000 after acquiring an additional 13,249 shares during the period. Finally, Cetera Investment Advisers purchased a new position in Core Scientific during the 1st quarter valued at about $198,000.

Analyst Ratings Changes

CORZ has been the subject of a number of research analyst reports. BTIG Research increased their price target on shares of Core Scientific from $33.00 to $38.00 and gave the stock a “buy” rating in a research report on Wednesday, June 24th. Canaccord Genuity Group set a $30.00 target price on shares of Core Scientific in a research report on Friday, May 8th. B. Riley Financial increased their target price on shares of Core Scientific from $30.00 to $33.00 and gave the stock a “buy” rating in a research report on Wednesday, May 27th. Cantor Fitzgerald lifted their target price on shares of Core Scientific from $25.00 to $29.00 and gave the company an “overweight” rating in a research note on Thursday, April 9th. Finally, Lucid Cap Mkts upgraded shares of Core Scientific to a “strong-buy” rating in a report on Friday, June 12th. One analyst has rated the stock with a Strong Buy rating, fifteen have issued a Buy rating, two have assigned a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat.com, Core Scientific has an average rating of “Moderate Buy” and a consensus price target of $30.39.

Core Scientific Stock Performance

Shares of CORZ stock opened at $22.75 on Friday. The stock’s 50 day simple moving average is $25.42 and its 200 day simple moving average is $20.68. Core Scientific, Inc. has a twelve month low of $12.60 and a twelve month high of $30.46. The company has a market capitalization of $7.23 billion, a price-to-earnings ratio of -19.96 and a beta of 5.50.

Core Scientific (NASDAQ:CORZ) last announced its earnings results on Wednesday, May 6th. The company reported ($1.06) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.02) by ($1.04). The business had revenue of $115.24 million during the quarter, compared to analysts’ expectations of $117.04 million. During the same period in the prior year, the firm earned $1.25 earnings per share. The firm’s revenue for the quarter was up 44.9% on a year-over-year basis. On average, analysts forecast that Core Scientific, Inc. will post 0.08 EPS for the current fiscal year.

Insider Buying and Selling at Core Scientific

In related news, insider Todd M. Duchene sold 10,000 shares of the company’s stock in a transaction on Monday, July 6th. The shares were sold at an average price of $22.63, for a total transaction of $226,300.00. Following the completion of the sale, the insider directly owned 2,023,426 shares of the company’s stock, valued at approximately $45,790,130.38. This represents a 0.49% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders have sold 80,000 shares of company stock valued at $2,011,800 in the last ninety days. 1.70% of the stock is currently owned by insiders.

Core Scientific Company Profile

Core Scientific, Inc (NASDAQ: CORZ) is a leading provider of large-scale blockchain infrastructure and digital asset mining services. The company develops, owns and operates high-performance data centers optimized for the mining of Bitcoin and other proof-of-work cryptocurrencies. In addition to its core mining operations, Core Scientific offers colocation, hosting and managed services designed to support institutional clients and enterprise users in deploying and scaling blockchain nodes and computing hardware.

Core Scientific’s service portfolio includes hardware procurement, deployment and maintenance, real-time monitoring, power management and network connectivity.